GoldMax

Let's not make a deal: Sun bails on GoldMax

August 2, 2012: 4:44 PM ET

FORTUNE -- In June I wrote that Sun Capital Partners had agreed to acquire Goldmax USA, a Chicago-based operator of over 200 retail locations for selling gold and other precious metals. There was an FTC filing and everything.

But sources familiar with the situation tell me that Sun has since called off the deal. Unfortunately, those same sources declined to explain why. And neither Sun nor GoldMax are talking.

Did Sun find something it didn't like at the very end of due diligence? Did the financing not come through? Door number three?

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  • Sun Capital giving cash for GoldMax

    Private equity firm looks to capitalize on the 'cash for gold' trend.

    FORTUNE -- Gold and silver prices might have leveled off from last fall's heights, but Sun Capital Partners still thinks there is a fortune to be made from one of the nation's larger "cash for gold" outfits.

    The Boca Raton, Fla.-based private equity firm quietly has agreed to acquire GoldMax USA, a Chicago-based operator of over 200 retail locations for selling MORE

    - Jun 18, 2012 12:44 PM ET
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